How much does high mileage reduce vehicle value

[julian040859]

Looking for a guide to work out if most cars do 25,000kms a year, how much do you reduce a car's value if the mileage is high. For instance, I am looking to buy a 2005 Kluger CVX with 160,000kms. Is there a rule of thumb for every say extra 10,000kms do you drop the price by $1,000 to $2,000.

Edited March 11, 2009 by julian040859

[castr10]

Can't say I have ever heard of any general rule like that - but in todays market no rules apply. A bloke I know recently purchased a one yr old SWB Pajero (top of the line) with 20,000 km for $29K - I priced one also just over a year ago (b4 I purchased the RAV ZR6) for $52K. Based on the general rule of thumb mentioned, that calculates to a reduction of $11.5K for every 10,000 km.

Personally, I would not be interested in anything with over 100K kilometres in a V6.

Edited March 12, 2009 by castr10

[julian040859]

Thanks for reply. Does anyone know how to shift this post to Kluger sub forum as I have posted it in the wrong one?